Trustmark Corporation · NASDAQ:TRMK
Trustmark — IPO Roadshow (November 2025)
33 slides from Trustmark's IPO roadshow presentation, Nov 17, 2025
Slide 1: Fixed Income Investor Presentation November 2025
Fixed Income Investor Presentation November 2025
Slide 2: Safe Harbor Statement and Disclaimers
Safe Harbor Statement and Disclaimers Certain statements contained in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “exp
Slide 3: Table of Contents
3 Table of Contents Offering Summary 4 Company Overview 5-7 Q3 ’25 Results 8 Historical Growth 9-10 Capital Position 11-12 Net Interest Income 13 Deposit Portfolio 14 Loan Portfolio 15-19 Asset Quality 20-21 Liquidity Profile 22-23 Noninterest Income & Expense 24-25 Appendix 26-33
Slide 4: Offering Summary
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Offering Summary * An explanation of the significance of ratings may be obtained from the rating agency. Gen
Slide 5: Today's Presenters
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Today’s Presenters v Duane Dewey President, Chief Executive Officer Trustmark Corporation Trustmark Bank Mr.
Slide 6: Trustmark Corporation
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Trustmark Corporation Trustmark is a diversified financial services company headquartered in Jackson, MS, pr
Slide 7: Our Company Franchise Overview
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Our Company Franchise Overview TRMK (167) LPO (1) FL AL TN MS LA TX Houston Jackson Birmingham Memphis Talla
Slide 8: Financial Highlights – Third Quarter 2025
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Financial Highlights – Third Quarter 2025 Loans held for investment (HFI) increased $83.4 million, or 0.6%,
Slide 9: Enhanced Financial Positioning
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Tangible Book Value Per Share* Enhanced Financial Positioning NIM—FTE Total Deposits Loans HFI ($ in billion
Slide 10: Consistent Growth in Profitability
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. $60,918 $153,290 $45,210 $166,261 $136,481 $159,220 $186,335 2022 2023 2024 9/30/2025 YTD Net Income from Co
Slide 11: Current Capital Position
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. 1 Current Capital Position Regulatory Capital as of September 30, 2025 Capital Highlights Common Equity Tier
Slide 12: Strong Capital Position Relative to Peers
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. 9.6% 9.3% TRMK Peer Median 11.6% 11.4% TRMK Peer Median 9.5% 8.9% TRMK Peer Median 11.9% 11.6% TRMK Peer Med
Slide 13: Income Statement Highlights – Net Interest Income
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. $158 $158 $155 $161 $165 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Net Interest Income – FTE ($ in millions) Net Interes
Slide 14: Diverse, Low Cost & Core Deposit Base
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. 20.6% 20.3% 20.4% 20.7% 21.2% 29.9% 31.2% 30.6% 29.8% 28.8% 27.5% 27.3% 27.9% 27.1% 27.6% 21.9% 21.1% 21.2%
Slide 15: Earning Asset Composition & Interest Rate Sensitivity
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Prime, 9% Variable (<= 1-month), 42% Variable (> 1- month), 2% Hybrid ARMs, 9% Fixed, 39% Loans by Rate Inde
Slide 16: Loans Held for Investment (HFI) Portfolio
Loans Held for Investment (HFI) PortfolioFocus on profitable, credit-disciplined loan growth continued Loans HFI Loan Portfolio Composition 09/30/25(1)Change ($ in millions) (1) Other RE, 9/30/2025 LQ Y-o-Y 15% Loans secured by real estate: 24% Const., land dev. and other land loans $ 1,242 $ (113)
Slide 17: Commercial & Construction Loan Concentrations
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. C&D / TRBC Ratio (%) CRE / TRBC Ratio (%)(1) Commercial & Construction Loan Concentrations Note: Financial d
Slide 18: Commercial Real Estate and Offices (CRE) Portfolio Detail
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Commercial Real Estate and Offices (CRE) Portfolio Detail CRE Portfolio Focused on vertical construction wit
Slide 19: Commercial Loan Portfolio Detail
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Commercial Loan Portfolio Detail (1)All information provided above reflects outstanding balances (2)Totals a
Slide 20: Strong Consistent History of Credit Risk Management
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Strong Consistent History of Credit Risk Management (Loans HFI) $ % Allowance /Non-accrual Loans 182% 139% 2
Slide 21: Strong Historical Credit Culture
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. 0.87% 1.01% 0.95% 0.56% 0.30% (0.02%) (0.03%) 0.15% 0.10% 0.11% 0.19% 0.06% 0.02% (0.04%) 0.01% 0.06% 0.19%
Slide 22: Liquidity Profile
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. (Dollars in millions) Liquidity Available to TRMK 9/30/2025 On-Balance Sheet Liquidity FRBA Interest-Bearing
Slide 23: Investment Securities Portfolio
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Treasuries 2% Residential Pass- Through MBS 32% Other Residential MBS 8% Commercial MBS 58% Treasuries 11% U
Slide 24: Attractive Diversified Fee Income Business
Attractive Diversified Fee Income Business Noninterest Income – Q3-25(1) Noninterest Income(1) Change Other, net, 6% ($ in millions) Wealth Management, Q3-25 LQ Y-o-Y 25% Service Charges on Deposit Accounts Service Charges $ 11.3 $ 0.7 $ (0.0) on Deposit Accounts, 28% Bank Card and Other Fees 8.3 (0
Slide 25: Income Statement Highlights – Noninterest Expense
Company Overview Q3’25 Results Capital Position Net Interest Income Loan Portfolio Liquidity Profile Historical Growth Offering Summary Deposit Portfolio Asset Quality Noninterest Inc. & Exp. Income Statement Highlights – Noninterest Expense (1) Totals may not foot due to rounding Noninterest expens
Slide 26: Appendix
Appendix
Slide 27: Current Ratings Profile
Current Ratings Profile Rating disclaimer: A rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating organization has its own methodology for assigning ratings and, accordingly, eac
Slide 28: Historical Interest Coverage & Double Leverage Ratio
Historical Interest Coverage & Double Leverage Ratio * A reconciliation of this non-GAAP measure is set forth in appendix (1)Assumes net proceeds from subordinated debt raise are used to repay outstanding subordinated notes. (2)Pro forma earnings inclusive of adjustments to interest expense on subor
Slide 29: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures ($ in thousands, except per share data) Quarter Nine Months Year Ended December 31,EndedEnded2022202320249/30/259/30/25Adjusted Continuing OperationsNet Interest Income (GAAP)a494,708$ 552,878$ 584,421$ 162,441$ 473,252$ Provision for Credit Losses (GAAP
Slide 30: Return on Average Tangible Common Equity Reconciliation
Return on Average Tangible Common Equity Reconciliation of Non-GAAP Financial Measures (1)Calculation = ((Net Income From Adjusted Continuing Operations Adjusted For Intangible Amortization/Number of Days in Period)*Number Of Days in Year)/Total Average Tangible Common Equity. ($ in thousands)Quarte
Slide 31: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures ($ in thousands except for per share figures) Year Ended, Quarter Ended, 12/31/22 12/31/23 12/31/24 3/31/25 6/30/25 9/30/25 Tangible Common Equity Stockholders’ Equity $1,492,268 $1,661,847 $1,962,327 $2,021,227 $2,070,789 $2,114,268 Less: Goodwill and O
Slide 32: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures (1) Assumes a tax rate of 25.0% ($ in thousands) Quarter Ended, 9/30/25 After-Tax Unrealized Gain / (Loss) on HTM Securities Fair Value of HTM Securities $1,233,736 Less: Carrying Value of HTM Securities 1,268,459 Pre-Tax Unrealized Gain / (Loss) on HTM
Slide 33: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures (1)Assumes a tax rate of 25.0% (2)Includes other intangible assets, net of DTLs, disallowed deferred tax assets (DTAs), threshold deductions and transition adjustments, as applicable. Common Equity Tier 1 and Common Equity Tier 1 Including AOCI & After-T